While rail service remains a challenge, we did see meaningful improvements in street and rail velocity in many corridors. Username or Email. Maybe talk a little bit about what it provides your customers in terms of efficiency gains? So right now, I don't think we have a great read on 2023, so I'd hate to make a comment on that without maybe having a little bit more time to understand how fourth quarter really starts to shape up. Thanks. David Jackson's Analysis | Seeking Alpha Unlock your true investor potential with Seeking Alpha Premium today David Jackson Follow Contributor since 2003 5.17K Followers 164 Following. But I think sequentially we'd expect rates to be stable. Don't have a Profit.ly account? David Jackson's Net Worth: $1-5 Million Age, Height & Body Measurements David Jackson current age 72 years old. 1. Since the 2017 Swift merger, we have invested $1.6 billion in acquisitions, making acquisitions remains a high priority for us. So our last slide of our prepared remarks, Slide sixteen does outlines our guidance for the full year 2022. David Jackson Chief Executive Officer at Seeking Alpha David Jackson is the Chief Executive Officer at Seeking Alpha based in New York, New York. The following text is a transcript for our readers who would like to follow along: (Parts of this transcript may have been altered for readability.). I mean, if you looked at our operating income, there's -- that's an operating income number that rivals the biggest market caps of anybody -- of full -- of companies moving full truckloads, whether that's over the rail or whether that's over the road in our transportation space. Today, we plan to discuss topics related to the results of the second quarter, provide an update on current market conditions, and update our full year [2020] (ph) guidance. As spot rates have declined, we have increased commitment levels with our customers and have reduced our exposure to the spot market. Thanks, gents. And then really leveraging dedicated surge and leveraging power-only to help our dedicated business when we have customers who surge beyond the capacity we've committed to them. I get that. Now on to Slide three. It's a huge discount that they only run once a year. But we very much like the business. We expect these services to continue to grow and provide us with income streams that are less prone to volatility through economic cycles. I believe that technology innovation by brilliant minds leads to awesome user experience. And so, we -- when you look at even the truckload portion, we do truckload with multiple brands, we have in that segment includes a bunch of dedicated business. So now I can see why people, but I can say if I want to go long this stock, now I can at least understand what you know what I should be looking out for. CTO & COO. I am passionate about building and scaling businesses. David Ganek: Delivering Alpha Unfiltered. I joined Seeking Alpha in June 2021. And so, every quarter that goes by between now and whenever the bottom of a cycle is, yes, we feel better and better about the trough that that floor continues to rise. Thank you, sir. And so, that's just -- and we didn't go into this one with a huge oversupply like we did in 2018 to 2019 or like we did in 2006 to 2007 or like we did in really -- I guess those would be some of the biggest ones we've seen in recent history. But even at $60 an hour after two hours. We will answer as many questions as time allows. Appreciate it. I bring over 14 years of finance experience to Seeking Alpha, in shaping and leading finance operations and teams. That's their job to be biased. Or, is it? Do you feel like it's higher than $4 given the traction you've made with LTL and logistics and the other revenue segment? We think that there are a whole -- there's a whole another level of synergies that can come as we can corner the entire country in a nationwide operating network behind the scenes with still the individual brands on the front end running the businesses. We continue to be excited about this business and have several projects ongoing that will improve the experience for our third party carriers. And so, we're transitioning in that space from also similar to the customer paying a big premium in spot, we're transitioning from paying very large premiums to bring power-only capacity into our network to paying what -- where the market rate is and relying on the efficiencies to attract. I think power-only plays a big role when customers come to us with projects that they need help on in a very short time window. Status All 0 Opened Unmarked 0 Active 0 Under review . . You have a jury who listens to both sides of the case, always. So just -- our spot exposure. Our balance sheet is strong and we are well positioned to invest in organic growth, pursue acquisitions, purchase more shares, increase dividends and/or pay down debt. I now live with my very own Brady Bunch (and assorted pets and wildlife) in the beautiful North of Israel, spending most of my free time feeding all of them, taking nature walks and tending my garden. Service 42. Where Is the contrary opinion? The stocks with STRONG BUY ratings from Seeking Alpha have increased 1,754% in comparison to the S&P 500%27s 385% increase over the past decade. And so the nature of the freight we haul tends to end up in the grocery store -- tends to end up in a place that's somewhat resilient through cycles. The best result we found for your search is David L Jackson age -- in Kansas City, MO in the Rosewood neighborhood. and industry experts (buy side) rather than sell side. And you've seen us do that with a good return. And number three, to provide these services in a way that benefits the relationship that we have with small carriers as we build a much, much larger network using their power with our trailers and freight network. And so what you've seen happen now for several quarters consecutively and again here powerfully in the second quarter is, we've been able to bring third party carriers in to move these loads that are more -- that's more efficient for the carrier, it's more efficient for the supply chain, we're able to manage that whole transaction. Each of the brands has its own unique competitive advantages, whether that's based on the region or doing more expedited or in some cases a little longer haul. And that simply isn't an option that's available. I started Seeking Alpha after working for five years as a technology research analyst for Morgan Stanley in New York. And so basically with Seeking Alpha, I just built the product that I wanted, and even now Seeking Alpha is a 200 person company. So we'll try and do our best to answer that. The customer included in the freight rate is two hours to unload that trailer. So still well above where normally we were, but there has been a huge falloff in buyers and people are willing to do that. The original concept for this platform was for it to be a place where knowledgeable investors could share their insights on investments and compare strategies. And so, if you have a detention charge on a backhaul lane, you have a very, very low base on the price to add $60 for every hour, over two hours to be unloaded. Working at Taboola reinforced my desire to continue doing what I love professionally but also if possible with an Israeli company. He left in early 2003 to manage money (long/short) and explore new. Now this concludes our prepared remarks. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. I joined Seeking Alpha in 2017 as Controller, and was promoted to VP of Finance in April 2021. And then, when you read the article, you can say, oh well this person owns the stock. The $20 million to $25 million is the total for the back half of the year. With Seeking Alpha premium, you can compare seven different stocks at the same time. We haven't quite got to $1 billion, we're on our way to $1 billion a year run rate for that to be the big driver of the earnings for the business. So, I guess, should we think about the truckload piece as a normal sort of down cycle, which I think we would view sort of contract rates maybe declining as much as what we've seen from spot? And it sounds like maybe even an expectation that rates will be somewhat stable sequentially. Yes. And then also not looking for guidance, but any thoughts on how contract rates will progress into 2023, just given where the spot market is right now? Thanks, Tom. And yes, there's some fuel surcharge benefit, but you've noted the fact that there was meaningful double digit yield improvement. Seeking Alpha was founded by former Wall Street analyst David Jackson in 2004. And we still see some of that today even when supply is a little bit looser. Source . The Seeking Alpha site has only one agenda, and that is to help its readers become better prepared and smarter investors. Great. There is no headhaul, backhaul, it's the same. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. We expect contraction in supply and are already seen it, and expect that to continue as the year proceeds as carriers deal with depressed spot rates combined with high energy fuel prices, higher maintenance and equipment costs and rising interest rates, which not only makes it difficult for those that are highly leveraged, but also disincentivizes new entrants to the market. Im passionate about building a product that enriches our subscribers lives, and a platform that provides opportunities for our contributors. We have identified several locations to develop or expand our LTL footprint through the rest of the year on an organic growth side, we expect to add 300 additional doors at nine new or existing facilities. Or is this just not the right way to think about at this time? All the stock advisory services and recommendation previously available . David Jackson is the founder and CEO of Seeking Alpha. Slide nine illustrates the strong growth in our businesses that are included in the non-reportable segment. And again, it's one question per participant. Spot would certainly be one of them, but we react to all sorts of different customer needs. And what that would have been like a year ago? As we make more commitments, we are seeing higher tender acceptance levels and fewer non contract opportunities. Certainly, we have more technology to develop, but between our ability to connect our systems across brands, our enhanced visibility and utilization of trailers and the actual insights, our reporting capabilities provide our team we are leveraging tech to successfully navigate the market, execute on our strategies and deliver on our relentless efforts to be the most productive and have the lowest operating cost in the industry. So by the way, I think that's a great question for us to discuss. Over the years, we've demonstrated our ability to effectively acquire and improve truckload businesses. Hey, Dave. Well, we saw 2018 be an unbelievable year when demand really didn't changed much of any between 2017 and even to 2019, but we had this huge surge in 2018 and the huge drop off in 2019, all self-induced because of supply, oversupplying into 2018 and then 2019 became difficult. Thank you. Click the follow button if you like this video so you dont miss any of our future video releases. Some tools you can start utilizing if you sign-up to Seeking Alpha, include: Custom virtual portfolio tracker Link and analyze your actual portfolio I think your -- first part of that question was acknowledging what are the benefits to the customer. As I've used it, I haven't seen that, and that's something I think you need to guide me through when we do this. We provide diverse opinions on each stock so that investors can weigh the bull and bear case and make an informed decision.Our news enables investors to understand why the market and the stocks in their portfolio are moving or are about to move. Customers continue -- we expect that customers will continue to secure trailer pools as they maximize efficiencies in their supply chains. Powered by the wisdom and diversity of crowdsourcing, millions of investors connect to discover and share investing ideas, discuss. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. I think that the growth in power-only loads this quarter really, I think, will help -- hopefully dispel some concerns that investors might have about that business at a more challenging freight market. In addition to this strategic acquisitions, we continue to improve our core truckload business and our existing assets to generate additional revenue. I previously served as a Controller at Nice Ltd., a publicly traded company that provides cloud platforms for AI-driven business solutions. But now I can read an article by somebody who's bearish on the stock who sold the stock, right? Thank you. David Jackson is the founder and CEO of Seeking Alpha. And so I would say that LTL has got ways to go. I am a qualified attorney in Israel and New York. Seeking Alpha is another excellent premium subscription service. Daniel Hochman. David Jackson - Researcher - LinkedIn | LinkedIn Join now Sign in David Jackson Hiding from waves of LinkedIn spam by omitting my company name and job title. Seeking Alpha is a crowd-sourced content service for financial markets. And so that type of business clearly requires a significant capital investment. This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. And so, all indicators are that supply is contracting already as we speak. In fact, the earnings are phenomenal there. Investors are directed to the information contained in item 1A Risk Factors or Part 1 of the company's annual report on form 10-K filed with the United States SEC for a discussion of the risks that may affect the company's future operating results. Demand for our power-only service offering remained strong and provides a strategic advantage compared to traditional brokers. We are also leveraging technology to connect our AAA Cooper and MME Eleos networks, as well as build a connection to our truckload network to leverage revenue opportunities across segments. So, now what we've done is, is we've tried to address the area where we do have a finite limit of capacity, which is we only have so many trucks and drivers. Live from New. If you have an ad-blocker enabled you may be blocked from proceeding. Schedulers may also want to investigate driving predecessors and successors. They've proven that out. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. I love navigating through complex laws and regulations to distill practical business solutions. Founder and CEO. Part 1 of the company's annual report on form 10-K filed with the United States SEC for a discussion of the risks that may affect the company's future operating results. After his phenomenal debut in 2014, Chinese K-pop star Jackson Wang has been taking the entertainment industry of South Korea by storm. I thrive on leading meaningful transactions that bring about transformation and growth. The teams have been aggressive at capturing both revenue and cost synergies and are rapidly moving towards harmonizing the network through AAA Cooper's footprint in the southeast and MME's footprint in the mid and northwest portions of the US. Karen Weissberg. We would refer you to the Risk Factors section of the company's Annual Report for a discussion of the risks that may affect results. Seeking Alpha began in 2004 and has its headquarters in New York. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. The loss reduced both the GAAP earnings per diluted share and the adjusted earnings per share by $0.16. If you have an ad-blocker enabled you may be blocked from proceeding. And we've been able to continue to have very, very strong volumes there. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. And so, that being said, I would say that we've been pleasantly surprised at the magnitude of the synergies that are available in both a large TL that has a few advantages going forward with -- working with LTL. What we're talking about is us leveraging the 73,000 trailers we have available within for our customers to fill with truckload freight. My hobbies include reading history and tormenting my children with terrible dad jokes. Yes, I would tell you that every quarter that goes by that we continue to see improvement in margins, improvement in revenue, it gives us more conviction for a higher and higher trough. Our stock coverage is wider and deeper than any other. David Jackson, Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Australia Bloomberg Daybreak Australia. Our truckload earnings now represent only 61% of earnings, which represents a meaningful shift from where we were in 2017 as noted in the graph when we did the Knight and Swift merger. And we're able to do it not to the detriment of our asset based business that performed, again, with an operating ratio in the 70s. Labor challenges within the rail network appear to be softening, leading to improved notification times and more consistency for our customers. And so they can save themselves from a lot of maintenance costs by getting into another truck. This has allowed us to make progress towards reducing the number of unseated trucks and slow the reduction in productivity year over year. Thanks. There are thousands of contributors. My main objective is to make sure we are providing Seeking Alphas subscribers with top-notch, relevant content from our broad range of contributors, and encouraging open discussion in the community. Good afternoon, Dave. Yes, sure. And so, we're fortunate with over $1 billion of free cash flow over the last 12 months that we have opportunities to go in both directions and we can sing and dance, so to speak, at same time and see both of these continue to grow and flourish. That's very helpful. You know if you say, are they biased? Our expansive trailer network allows our customers the ability to optimize thorough our warehouse space and labor costs. Paul Jelinek. In 2020, summer of 2020 you saw some of the cheapest fuel we've seen in --certainly in oil prices, maybe in ever in the modern era. And your next question will be from Bert Subin at Stifel. The industry norms since electronic logs were mandated and enforcement began in early part of 2018 the industry standard is that you get two hours. We continue to invest in our already industry leading trailer network, which grew sequentially by 1,700 trailers to just over 73,000 trailers. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. So that's a little bit of color there. So as a result of that, today in the Knight and Swift, nine out of every 10 loads that we haul involves a trailer pool on at least one side, if not both. Im also a strong believer in remote working, as a way to enable both career success and other life goals, so many members of our team work from home. The reality with freight rates going up, with driver wages going up, that number should have gone up, but it hasn't yet. I previously served as a Controller at Nice Ltd., a publicly traded company that provides cloud platforms for business! Different stocks at the same time we did see meaningful improvements in street and rail velocity many! Our warehouse space and labor costs on slide three compare our consolidated quarter! Best result we found for your search is david L Jackson age in... 'S bearish on the stock who sold the stock, right Attribution-ShareAlike License 3.0 ; terms., millions of investors connect to discover and share investing ideas, discuss over. 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